INSURANCE NEWS
Insurers Are ‘Actively Evaluating’ New Catastrophe Risks as Europe Burns
Europe’s insurers are bracing for a new era of catastrophe risk fanned by rising temperatures in the world’s fastest-warming continent. Insurers, reinsurers and brokers contacted by Bloomberg are already predicting increased premiums and bigger losses tied to natural catastrophes. Importantly, …
US Diners Avoid Restaurants as Cyclosporiasis Fears Cut Lettuce Sales
U.S. consumers are steering clear of some restaurant chains and buying less lettuce in grocery stores as a multistate outbreak of a parasitic disease fuels confusion over what is safe to eat, according to foot traffic data and industry sources. …
Edison Says Its Equipment Likely Associated With 2025 LA Fire
Edison International CEO Pedro Pizarro told investors “no other viable alternatives have appeared” to explain what caused a massive wildfire in the Los Angeles area last year other than equipment owned by the company’s Southern California utility. The company now …
Michigan Restaurant Chain Owes More Than $500K in Back Wages
The U.S. Department of Labor has obtained a consent judgment requiring the owner of four Michigan Leo’s Coney Island franchises in Clarkston, Dearborn, Livonia, and Sterling Heights to pay more than $500,000 in owed overtime wages and damages to 143 …
Cyclosporiasis Cases Top 10,000 in Michigan as Parasite Spreads
A severe-diarrhea-inducing parasite has now infected more than 10,000 people in Michigan, the epicenter of an outbreak that’s been reported in 45 states in the US since May. Michigan Health and Human Services said Wednesday that it has 10,077 cases …
Third Wave Acquires Five Gulf Coast Insurance and Advisory Agencies
Third Wave Insurance, an insurance brokerage platform managed by TPG, has entered into definitive agreements to acquire five insurance and advisory agencies across Louisiana, Mississippi and Florida. The acquisitions include Massad Olinde, a Baton Rouge-based employee benefits and retirement advisory …
Floodwater Delays Corpus Christi’s Water Emergency Until Fall 2028
Corpus Christi got “tremendous” news Monday when the city’s projected water emergency was delayed until fall 2028 — a year later than previously anticipated — as floodwater from recent intense storms continues flowing into some of the region’s reservoirs. Water …
Los Angeles’ Rare Humidity Tied to Pacific Heat, Climate Change
Los Angeles isn’t the first place people think of as sultry in summer. But an unusually warm Pacific Ocean is pushing humidity to uncommon levels in a region better known for dry heat. A marine heat wave stretching across the …
Wisconsin Governor Declares State of Emergency as Tornado Cleanup Begins
First responders searched homes and buildings on Tuesday for possible victims, a day after a powerful tornado touched down in northeastern Wisconsin, hollowing out homes and toppling power lines as it remained on the ground for more than 20 minutes. …
Analog Devices Assessing Latest Cyber Breach Claim From Hackers
Analog Devices Inc. is assessing a new claim by a group of hackers who say they’ve stolen hundreds files containing information on customers of the computer chips maker. A hacking group known as ExfilSquad has claimed to have breached Analog …
Experts in Lockheed Pollution Suit Used Unreliable Methods, Appeals Court Says
Lockheed Martin Corp. won a major legal victory in May when a Florida jury found that plaintiffs had failed to prove that the defense and aerospace giant had polluted groundwater around its Orlando manufacturing site and caused disease in nearby …
Aon Quarterly Profit Jumps on Commercial Risk Management Strength
Aon reported a jump in second-quarter profit on Wednesday, as the insurance broker giant benefited from robust demand for its commercial risk management offerings. The construction business has benefited from strong data center spending by Big Tech firms, boosting demand …